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Possible Bullish Inside Day Candle Pattern Detected for Sealed Air (NYSE:SEE)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Sealed Air (NYSE:SEE) based on the price action in the company's shares. Today's price range of $45.05 and $45.28 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Sealed Air may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Sealed Air Corporation manufactures a wide range of packaging and performance-based materials and equipment systems. The Company's products serve an array of food, industrial, medical, and consumer applications.

Sealed Air (NYSE:SEE) has potential upside of 19.6% based on a current price of $45.25 and analysts' consensus price target of $54.11. Sealed Air shares should first meet resistance at the 200-day moving average (MA) of $47.23 and find additional resistance at the 50-day MA of $48.19.

Sealed Air share prices have moved between a 52-week high of $55.84 and a 52-week low of $38.02 and are now trading 19% above that low price at $45.25 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Sealed Air and will alert subscribers who have SEE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle sealed air

Ticker(s): SEE